Savings and loan association

Federal Savings and Loan Association

A federally charteredbank that specializes in taking deposits for checking and savings accounts, as well as making home mortgages. Savings and loan associations tend to be smaller than other banks and are more focused on the local communities in which they operate. It is sometimes (but not always) easier to obtain a loan from a savings and loan association because it may have better knowledge of the local market. They derive most of their funds from customer savings accounts, but they also generally have easy access to loans from the Federal Home Mortgage Banks. They are also known as thrifts. They are regulated by the Office of Thrift Supervision.

savings and loan association (S&L)

A deposit-gathering financial institution that is primarily engaged in making loans on real estate. Although many S&Ls are owned by their depositors, some are organized as profit-making institutions with stock that is publicly traded. See also thrift.

savings and loan association

A financial institution that specializes in consumer deposits and residential mortgages.

A federal judge on Friday night ordered the government to pay nearly $909 million to a California savings association that nearly went bankrupt after Congress and the Bush administration imposed tougher accounting changes on the industry a decade ago.

Such criteria is still applicable, including the assessment of additional credit enhancement, for loans originated in any jurisdiction by non-OTS-regulated entities and in Georgia by any entity which is not an OCC-regulated entity or a Georgia chartered bank or savings association.

The SAIFIAC was established in the 1989 FIRREA legislation to advise the Federal Deposit Insurance Corporation and to issue reports to Congress on issues affecting the Savings Association Insurance Fund.

These lenders--commercial banks, savings associations, and mortgage banks--have low-income portfolio shares similar to the FHA's, although their market shares are only slightly larger than those of others in the conventional mortgage system.

Statistical analysis of the survey results produced, for the entire population of banks and savings associations in the United States, estimates of the level of service availability and the level and incidence of fees at the time of each annual survey.

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